Liverpool debt dispute forces Americans to consider sale

[irishgeo]

have i missed something but does the stock exchange not have to be informed if DIC are looking at the books.

Or does this not happen because all the shares are owned by the 2 yanks.

[AFII]

have i missed something but does the stock exchange not have to be informed if DIC are looking at the books.

Or does this not happen because all the shares are owned by the 2 yanks.

I think that you only need to inform the stock exchange if there is shares out on the market.

[Armchairkopite]

Thanks for posting the info AFII

[AFII]

Sameer Al Ansari

Sameer Al Ansari is the Executive Chairman and Chief Executive of Dubai International Capital LLC, the international investment arm of the conglomerate Dubai Holding, which he helped found in 2004.

Mr. Al Ansari was previously Group Chief Financial Officer for The Executive Office of His Highness Sheikh Mohammed Bin Rashid Al Maktoum. There he was responsible for the management of various projects. He was involved in the establishment of Dubai Holding in 2004, which went on to found DUBAI INTERNATIONAL CAPITAL in October 2004.

Mr. Al Ansari qualified as a professional accountant in 1987 and is a Fellow of the Institute of Chartered Accountants in England & Wales. He holds an Honours degree in Accounting & Financial Management and a Diploma in Industrial Studies from Loughborough University, England. He started his career at the accountancy firm BDO in London. In 1987, he moved to Dubai with Ernst & Young. Prior to joining the Executive Office, he was Chief Financial Officer at Dubai Aluminium Company (DUBAL), where he played a key role in the turnaround of the Company.

Under Mr. Al Ansari, Dubai International Capital has developed a strategy that involves backing incumbent management and in investing in the businesses it acquires. This approach aims to give Dubai International Capital the best chance to deliver value in the long-term and make a good return on its investment.

Following this approach, Dubai International Capital has developed its portfolio of investments since 2004. At the end of 2006, it had approximately US$5.5 billion of assets under its management.

Over half of these investments are in companies headquartered in the UK. In 2005, Dubai International Capital bought The Tussauds Group, the largest operator of visitor attractions in Europe, for £800m.

It has also acquired Doncasters Group, a UK-based manufacturer of precision, engineered components and systems for £700 million and the Travelodge hotel group for £675 million. In Jan 2005, it acquired a 2% stake in DaimlerChrysler, the world’s second largest carmaker, for US$1 billion.

Mr. Al Ansari is a board member of companies including Dubai International Capital’s parent company Dubai Holding, Dubai Media Inc., Sama Dubai and the Dubai International Financial Centre. He also sits on the board of Dubai International Capital owned companies Tussauds, Doncasters, Travelodge, and Mauser AG. He is Chairman of Ishraq, a US$150 million investment company that has been formed to bring the Express by Holiday Inn brand of hotels to the region, and also is Chairman of Jordan Dubai Capital, in addition to being vice-chairman of Jordan Investment Trust.

Mr. Al Ansari’s achievements in the financial sector were recognised when he was awarded the Young Arab Leaders’ Award from His Highness Sheikh Mohammed Bin Rashed Al Maktoum in Dec 2005.

Mr. Al Ansari has three children. He has a range of interests including football, horse racing and golf and is a long-time supporter of Liverpool Football Club.

http://www.dubaiic.com/en/chairmans-...-ansari-2.html

[GBT]

Ansari said last week in an interview with David Bond in The Telegraph when questionned about Northern Rock and the credit crunch effecting investment in the company - "credit crisis does not impact on DIC".

The credit crunch involving Northern Rock doesn't affect G&H. Northern Rock has nothing to do with why G&H are struggling to raise the required capital. Your point is..... well pointless.

No its not pointless, i think his point was that the global credit crunch doesn't effect DIC and the global credit does effect G&H!!!

Yes, don't you think???

[Red_Al_77]

No its not pointless, i think his point was that the global credit crunch doesn't effect DIC and the global credit does effect G&H!!!

Yes, don't you think???

Err no. G&H are being affected by the exchange rate. There is no global credit crunch. There is a credit issue in America surrounding the sub prime market and an interbank issue in the UK. G&H are struggling to raise a loan a) because of the exchange rate making borrowing not great at present b) they are unwilling to put their own money in to appease the banks. As has been said countless times before there is nothing to say DIC won't be borrowing from the banks as well.

[GBT]

Sameer Al Ansari

Sameer Al Ansari is the Executive Chairman and Chief Executive of Dubai International Capital LLC, the international investment arm of the conglomerate Dubai Holding, which he helped found in 2004.

Mr. Al Ansari was previously Group Chief Financial Officer for The Executive Office of His Highness Sheikh Mohammed Bin Rashid Al Maktoum. There he was responsible for the management of various projects. He was involved in the establishment of Dubai Holding in 2004, which went on to found DUBAI INTERNATIONAL CAPITAL in October 2004.

Mr. Al Ansari qualified as a professional accountant in 1987 and is a Fellow of the Institute of Chartered Accountants in England & Wales. He holds an Honours degree in Accounting & Financial Management and a Diploma in Industrial Studies from Loughborough University, England. He started his career at the accountancy firm BDO in London. In 1987, he moved to Dubai with Ernst & Young. Prior to joining the Executive Office, he was Chief Financial Officer at Dubai Aluminium Company (DUBAL), where he played a key role in the turnaround of the Company.

Under Mr. Al Ansari, Dubai International Capital has developed a strategy that involves backing incumbent management and in investing in the businesses it acquires. This approach aims to give Dubai International Capital the best chance to deliver value in the long-term and make a good return on its investment.

Following this approach, Dubai International Capital has developed its portfolio of investments since 2004. At the end of 2006, it had approximately US$5.5 billion of assets under its management.

Over half of these investments are in companies headquartered in the UK. In 2005, Dubai International Capital bought The Tussauds Group, the largest operator of visitor attractions in Europe, for £800m.

It has also acquired Doncasters Group, a UK-based manufacturer of precision, engineered components and systems for £700 million and the Travelodge hotel group for £675 million. In Jan 2005, it acquired a 2% stake in DaimlerChrysler, the world’s second largest carmaker, for US$1 billion.

Mr. Al Ansari is a board member of companies including Dubai International Capital’s parent company Dubai Holding, Dubai Media Inc., Sama Dubai and the Dubai International Financial Centre. He also sits on the board of Dubai International Capital owned companies Tussauds, Doncasters, Travelodge, and Mauser AG. He is Chairman of Ishraq, a US$150 million investment company that has been formed to bring the Express by Holiday Inn brand of hotels to the region, and also is Chairman of Jordan Dubai Capital, in addition to being vice-chairman of Jordan Investment Trust.

Mr. Al Ansari’s achievements in the financial sector were recognised when he was awarded the Young Arab Leaders’ Award from His Highness Sheikh Mohammed Bin Rashed Al Maktoum in Dec 2005.

Mr. Al Ansari has three children. He has a range of interests including football, horse racing and golf and is a long-time supporter of Liverpool Football Club.

http://www.dubaiic.com/en/chairmans-...-ansari-2.html

Looks like you answered my question!!!

[Red_Al_77]

Really? I thought we were a football club not some company investment.

[Dhav]

Here's a few more links fellas, not sure if AFII's already posted them:

http://www.tv.com/users/fordies/prof...m-100-25259381

DIC still want Liverpool?

A source has posted this a couple of days ago

It's true there have been big problems between the American pair that went on to Hicks then having problems with Rafael Benitez - more problems than Rafa deserved really.

Gillett dug his heels in & gave his support to Rafa, against Tom Hicks wishes, so a stalemate ensued with both Hicks & Gillett & Hicks & Benitez.

The problems between the Americans started because of the financing of the 'Liverpool project'.

Gillett wants to remain true to Mr. Moore's, the board & of course the fans.

Hicks on the other hand wants to break those promises and place all the debt against the club - using none of his personal wealth - ala Manchester United.

Hicks & Gillett have 220 million problems. That is the money they borrowed from the Royal Bank of Scotland at the start to pay for the 'Anfield project'.

They have until the end of February to refinance the loan which has now well exceeded the original £220 million, due to the banks interest & the players they purchased in the summer. Also they took millions of pounds to help fund the new stadium that has seemingly come to a standstill.

However, if Hicks cannot persuade the Royal Bank of Scotland to renegotiate the current loan, there is a distinct possibility that the bank will become the 'De facto' owners of Liverpool football club within weeks.

On Saturday a Royal Bank of Scotland spokesman said that "A stalemate has been reached but negotiations are ongoing".

It is the case that it would be in the Royal Bank of Scotland's best interest to force the American pair out of Liverpool, but only if they know they have someone ready to step in with immediate effect.

The noise D.I.C is making suggest there is serious interest in becoming Liverpool owners - sooner rather than later & are just waiting for the right time to pounce & those noises are getting louder & louder.

Hicks only 4 weeks ago held meetings with officials from D.I.C in an attempt to sell 7.5% of his shares & 7.5% of Gillett's for 150 million. That would have been a 15% stake in Liverpool, but on that valuation it would have meant the club totaled more than 1 BILLION which Sheikh Mohammed bin Rashid Al Maktoum will not pay.

It could well be the case that if Hicks & Gillett are refused the extension in February & the club immediately goes into the banks hands, that inturn would let in D.I.C through the backdoor & the club would be considerably cheaper for them to buy too.

Also it would be a vastly better plan for the bank too.

Instead of putting the bank at any kind of risk during these turbulent financial times & trying to persist with the Americans - dealing with D.I.C would be far more attractive proposition for them as the finances at D.I.C are not in the same league as that of Hicks & Gillett.

Not even close.

I read about 3 months ago that D.I.C had conducted an investigation into how they managed to lose out on Liverpool in the first place & vowed to get Liverpool at sometime in the future as long as they knew they have the fans 100% support.

In the same article, it said that the lies the UK press printed regarding D.I.C's supposed selling of Liverpool FC in 10 years would be blown out of the water' and conclusive proof would be given to the fans to refute any such allegations.

Sheikh Mohammed bin Rashid Al Maktoum wants to add Liverpool to his ever growing portfolio, but first & foremost is a fan too.

He is keen to get the chance to prove it.

I dont really know what to think of this the Americans came in promising a lot and started very well with the transfer activities securing the likes of Torres but over recent weeks there are a lot of rumours about them having cash problems, disagreements and the recent scaling down of the stadium designs it doesnt look good.

Some background info on DIC

A bit of transfer news from the same source

There is alot of noise coming out of Spain suggesting Dos Santos has turned down the improved offer made to him by the Spanish club.

There are articles all over the internet saying that the fight for Dos Santos is between Liverpool & Arsenal.

He was always expected to leave this January, and Liverpool are said to be firmly in the driving seat with this chap.

will rival any bid made by Talks between Liverpool & Dos Santos's father have already taken place, but he has come out and said that he believes ArsenalLiverpool.

This doesnt appear to be a ploy being used by his father as its said him turning down the deal is nothing to do with money.

It comes down to playing time & he is said to accept that his chances will be limited at best.

We should see in the next 2 weeks what happens with this boy - but whoever gets him is getting a star turn.

[AFII]

Err no. G&H are being affected by the exchange rate. There is no global credit crunch. There is a credit issue in America surrounding the sub prime market and an interbank issue in the UK. G&H are struggling to raise a loan a) because of the exchange rate making borrowing not great at present b) they are unwilling to put their own money in to appease the banks. As has been said countless times before there is nothing to say DIC won't be borrowing from the banks as well.

They can probably loan the money from a bank they own and then put that loan against the club.

Then we would be in debt, good for the business, but not really be in debt. Like Roman is doing at Chelsea.

[GBT]

Really? I thought we were a football club not some company investment.

Were have u been for the past couple of years, how many clubs in the premiership been taken over???

[Dhav]

http://www.business24-7.ae/cs/articl...eadlineID=1025

Liverpool goal is wide open for DIC
by Frank Kane on Sunday,January 13,2008


In finance, as in football, it is all about timing. If your star striker regularly gets in the box at the right time, the result is a goal for your team. But if he gets it wrong on a consistent basis, the result is usually defeat.

It’s the same in high finance, though the result is not always so immediate. American sports financiers Tom Hicks and George Gillett must have thought they timed their run to perfection last year when they nipped in at the last minute to beat Dubai International Capital to ownership of Liverpool football club in Britain. The Americans offered just a little more than DIC to the controlling shareholders, David Moores and Rick Parry, and got instant agreement for a deal worth around Dh2.5 billion. Goal.

DIC, led by Liverpool fan Sameer Al Ansari, reacted stoically and sensibly. The Americans were paying too much anyway, DIC said rightly, and were borrowing too much of the total to make financial sense. Ansari’s desire for the deal and commitment to Liverpool were never in doubt, but the best thing for DIC to do was walk away and let events take their course.

How shrewd that decision looks today, in the changed environment of the post-subprime world. It emerged today that the Americans were having some trouble meeting the repayment terms of the loan they negotiated with Royal Bank of Scotland, and if they failed to come up the cash the bank would end up owning Liverpool.

How embarrassing for the Americans. Before the global credit crunch, it probably seemed a good idea to load up with debt to pay a lot of money to the greedy owners of Liverpool, take on the club’s considerable debt of GDP45 million (Dh323m) and then splash out on some new players and a new stadium. Now, it looks like the height of folly.

The DIC always looked the better offer, even before the credit crunch. Dubai has deeper pockets than the American entrepreneurs, and was willing to offer financial backing for the new stadium, which could cost as much as GDP400 million. A project of that size needs rigorous assessment and planning long from the outset if it is to avoid the pitfalls of other large sports infrastructure investments, which always seem to over-run both budget and deadlines.

If DIC does get control this time, Ansari would also probably want his own management team in charge, which raises the possibility of Jose Maurinho replacing the current manager Rafael Benitez. That would be an exciting prospect for all Liverpool fans.

It would also make sense for RBS. Banks take on some pretty crazy assets as collateral especially in troubled times like these, but a football club like Liverpool, with its unreliable cash flow and results-dependent finances, would probably be the craziest of them all. RBS has much more serious things to worry about in the US, and does not need the distraction.

All this puts DIC very much in control of the situation. It is said the Americans would want a total of GDP500 million (Dh3.6 billion) for Liverpool, but this is a ridiculous valuation. It is impossible to see what has added GDP150m to the club’s value in the past 12 months, and DIC should disregard this price-tag as a hopelessly wild opening shot.

Ansari has the ball at his feet and the goal looming large. One accurate shot on target, and Liverpool football club is all his.

Thanks to the guy off Teamtalk who I shamlessly nicked these from

[Red_Al_77]

Were have u been for the past couple of years, how many clubs in the premiership been taken over???

Here actually.

Liverpool isn't some investment company to buy up and then sell in 7 years for a profit. This isn't CM. That is not what Liverpool should be about and not what we should be looking for. Some fans clearly want that approach. DIC offers nothing different in a business sense to the Yanks. If they came in there is nothing to say a) they won't ditch Rafa and b) they won't sell the club for a profit when they get bored. Forgive me for not getting too excited by the prospect of DIC and not jumping to Rashid's post.

[GBT]

G&H are struggling to raise a loan a) because of the exchange rate making borrowing not great at present b) they are unwilling to put their own money in to appease the banks.

dont think so matey

a) look at the exchange rate when they took over the club? think its about the same it is now.

b) why didn't they have to put up there own money in the first place. because of the credit crunch, banks where throwing money at them, not now!

DIC will be different if they become owners - if they do borrow, there own money will be in the pot as well.

[Steve101]

Plus I dont know why former players would go around making stuff up - its not like they would be trying to impress anyone with their 'insider knowledge'............errr, yes they would! Theyre trying to make a living here, and need to impress that they have the contacts and knowledge etc. easy to figure out, a bit like some posters on here!!!!